David Pursell

David Pursell News

Even as the decision to stop gas supplies to Ukraine aggravates tensions with the U.S. and Europe, Russia faces a dilemma: it still needs Exxon Mobil Corp., Halliburton Co. and BP Plc to maintain output from Soviet-era oil fields and develop Arctic and shale reserves.

BP Plc is likely to intercept its Gulf of Mexico gusher this month, ahead of schedule, kicking off a “kill” process that may take as little as two days or drag out because of complications caused by the well’s depth.

BP Plc may lose control of its U.S. oil and natural gas wells and be barred from doing business with the federal government as punishment for the worst oil spill in U.S. history, industry and regulatory analysts said.